Tumblr, a blogging platform investors valued at $800 million, has a lot of promise.

It turned on its first true monetization efforts earlier this year and generated $13 million in a matter of months. Its two ad placements, Spotlight (promoted accounts) and Radar (editor-promoted content), generate 120 million impressions per day.

But the company has raised $126 million to date and it plans to burn about $40 million next year, so it has an aggressive revenue goal of $100 million in 2013.

David Karp is the right person to lead Tumblr. Investors support Karp and aren't pushing him out, but they aren't against bringing in another executive either. The company may still hunt for a Sheryl Sandberg-type executive to replace John Maloney.

Its hockey stick growth will continue. Tumblr's traffic has doubled since it raised $85 million last year, and it now has 18 billion monthly page views.